Canasia Industries Corporation

Published : February 25th, 2008

Acquires Option on more than 450,000 Contiguous Acres of Potash Claims

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Keywords :   1971 | Canada | China | Growth | Market |
======================================================================
Re: News Release - Monday, February 25, 2008
Canasia Acquires Option on more than 450,000 Contiguous Acres of
Potash Claims
======================================================================

Canasia Industries Corporation (the "Company") wishes to announce that,
subject to regulatory approval, it has signed an option agreement to
acquire a 100% interest, in the Eyehill Creek Potash Property, which
consists of 20 Metallic and Industrial Minerals Permit (MAIM)
Applications, located within east-central Alberta, along the
Saskatchewan-Alberta border. These permit applications, which the
Company anticipates will be granted shortly, encompass approximately
450,000 acres of lands prospective for potash.

The Eyehill Creek Potash Property is underlain at depth by the Prairie
Evaporite Formation, the uppermost unit of the Elk Point Group. The
Prairie Evaporite Formation occurs extensively across the plains region
of western Canada, where individual potash beds can be up to seven
meters thick.

The Potash-bearing beds of the Prairie Evaporite Formation are shown to
project into the Eyehill Creek Property by Hamilton (1971), while
Hamilton and Olson (1994) document a Potash Showing on the property.
Most of the recorded Potash Exploration in Alberta occurred between
1965 and 1968. The Company believes that there is potential for the
discovery of significant Potash occurences within the Eyehill Creek
Property. Currently, there is no NI43-101 report on this property, nor
are there proven, indicated or inferred resources. The Company plans
to initiate a compilation of all historic exploration data for the
area, and the completion of a NI43-101 report.

Potash is a general term covering several types of potassium salts, of
which the most important is potassium chloride, the mineral sylvite.
Potash is a nutrient essential for plant growth, and is a cornerstone
of modern agricultural fertilizers. Roughly 95 per cent of world potash
production goes into fertilizer, while the other five per cent is used
in commercial and industrial products - everything from soap to
television tubes. According to an article in the Financial Post
published Wednesday, February 20, 2008, "Driving potash prices will be
strong demand - particularly from countries outside of China, which is
currently negotiating contracts - in a time of historically low
inventory levels, the strategists say. North American producer
inventories are 37% below the five-year historical average, and about
50% lower than in 2006."

Graeme Sewell, a director of the Company stated, "This prospect holds a
tremendous opportunity for Canasia to branch out its mining operations
into potash, a commodity which is in high demand at this time. Once
final permits are received a work program will be initiated with the
hopes to ultimately put a mine into production. When you consider
that currently there are only a few publicly traded Potash companies,
the majority of these trading with market caps over 100 million
dollars, we feel that this new prospect has the possibility to create
significant shareholder value if it is shown to contain an economic
potash deposit."

Terms of the acquisition with the arms-length vendor are as follows:

1) Cash payment of $35,000 upon execution of the Option Agreement;

2) A further cash payment of $89,998 after receipt of the MAIM Permits;

3) On acceptance by the TSX Venture Exchange and receipt of the
metallic and industrial minerals issuance of 500,000 common shares
of the Company;

4) One year from the date of the Agreement the issuance of 500,000
common shares of the Company;

5) Two years from the date of the Agreement the issuance of 500,000
common shares of the Company; and

6) The property is subject to a 2% NSR Royalty.

Jody Dahrouge P.Geol., a qualified person, has reviewed the information
pertinent to the Eyehill Potash Property contained herein.

The Company wishes to further announce that it will be attending the
PDAC March 2nd and 3rd. According to the PDAC's website, "The PDAC
International Convention, Trade Show and Investors Exchange is the most
important event in the world of exploration, bringing together over
18,000 attendees from all over the globe." Canasia's management extends
an invitation to all shareholders and prospective shareholders to meet
Canasia representatives at the show.

If you would like to be added to Canasia's news distribution list,
please send your email address to info@canasiaind.com.

Contact Information
Tel: (778) 328-8848
Fax:(604) 689-1733
www.canasiaind.com
info@canasiaind.com

"Graeme Sewell"
Director
Canasia Industries Corporation

Disclaimer for Forward-Looking Information

Certain statements in this release are forward-looking statements,
which reflect the expectations of management regarding the Company's
ability to close the Purchase and Sale Agreement. Forward-looking
statements consist of statements that are not purely historical,
including any statements regarding beliefs, plans, expectations or
intentions regarding the future. Such statements are subject to risks
and uncertainties that may cause actual results, performance or
developments to differ materially from those contained in the
statements. No assurance can be given that any of the events
anticipated by the forward-looking statements will occur or, if they do
occur, what benefits the Company will obtain from them. These
forward-looking statements reflect management's current views and are
based on certain expectations, estimates and assumptions which may
prove to be incorrect. A number of risks and uncertainties could cause
our actual results to differ materially from those expressed or implied
by the forward-looking statements, including: (1) a downturn in general
economic conditions in North America and internationally, (2) the
inherent uncertainties and speculative nature associated with mineral
exploration, (3) a decreased demand for minerals, (4) any number of
events or causes which may delay or cease exploration and development
of the Company's property interests, such as environmental liabilities,
weather, mechanical failures, safety concerns and labour problems; (5)
the risk that the Company does not execute its business plan, (6)
inability to retain key employees, (7) inability to finance operations
and growth, (8) inability to obtain all necessary environmental and
regulatory approvals, (9) an increase in the number of competitors with
larger resources, (10) other factors beyond the Company's control;
These forward-looking statements are made as of the date of this news
release and the Company assumes no obligation to update these
forward-looking statements, or to update the reasons why actual results
differed from those projected in the forward-looking statements.
Additional information about these and other assumptions, risks and
uncertainties are set out in the "Risks and Uncertainties" section in
the Company's MD&A filed with Canadian security regulators.

The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of the content of this news
release.

This service is intended for dissemination of company information only.
This is not a solicitation to buy or sell securities. Any decision to
buy or sell securities should be discussed with a professional in the
financial industry. If you would like to be deleted from this service
or feel this message was sent in error, please send an email to
info@canasiaind.com with delete in the subject line and use the exact
email address as it appears in this message.

======================================================================
Copyright (c) 2008 CANASIA INDUSTRIES CORPORATION (CAJ) All rights
reserved. For more information visit our website at
http://www.canasiaind.com/ or send mailto:info@canasiaind.com
======================================================================
.
Data and Statistics for these countries : Canada | China | All
Gold and Silver Prices for these countries : Canada | China | All

Canasia Industries Corporation

EXPLORATION STAGE
CODE : CAJ.V
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Canasia Industries is a gold and copper exploration company based in Canada.

Its main exploration properties are DEBUT GOLD in USA and CLONE GOLD in Canada.

Canasia Industries is listed in Canada and in Germany. Its market capitalisation is CA$ 1.4 millions as of today (US$ 1.3 millions, € 968 325).

Its stock quote reached its highest recent level on June 13, 2008 at CA$ 0.56, and its lowest recent point on July 07, 2014 at CA$ 0.01.

Canasia Industries has 140 678 000 shares outstanding.

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Project news of Canasia Industries Corporation
7/24/2008(Clone Gold)Drill Additional Gold Prospect
6/5/2008(Reed Lake)Conductors Indicated on Reed Lake Prospect
6/2/2008(Potash)453,058 Acres of Potash Claims Receive Government Approval
5/30/2008(Jumbo Gold)INITIATES SUMMER WORK PROGRAM
5/23/2008(Reed Lake)VTEM Survey on Reed Lake Prospect Received
4/16/2008(Potash)SIGNIFICANT POTASH PRICE INCREASE IN 2008
4/7/2008(Reed Lake)SEVEN NEW CLAIMS ACQUIRED IN REED LAKE, MANITOBA
3/4/2008(Potash)Retains Geological Consulting Group for Potash Development
12/10/2007(Reed Lake) initiates work program on Reed Lake claims in Manitoba
Corporate news of Canasia Industries Corporation
9/19/2012Positive Indications Returned on Murdochville Aluminous Clay...
9/14/2012(Clone Gold)Re-Commences Operations on Clone Gold Prospect
1/29/2010Applies for Land in the Vicinity of (EFG) First Gold Explora...
1/22/2010Commences Mexico Operations
1/18/2010to Commence Primary Winter Gold/Copper Drill Program
1/12/2010Gold prices hit a five-week high
2/25/2008Acquires Option on more than 450,000 Contiguous Acres of Pot...
11/8/2007 Attend Strategic Investment Forum
10/15/2007Acquire Interest in 26,653 Hectares in Reed Lake, Manitoba
9/25/2007Lists on one of the Worlds Largest Stock Exchanges
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